By Jacob Dayan
As the business world moves to an almost exclusively digital setting, the ways that businesses interact with their customers is quickly changing. As companies learn to grasp hold of affordable and easy-to-use marketing tools, it’s becoming more challenging to stand out from other competitors selling similar products and services. Thankfully, there is one way to beat the odds: customer relationship management (CRM). In this article, we explore three reasons why CRM is so necessary in today’s world and why your business should include it this year.
1. CRM Accomplishes More
For a while now, the thought has been to include SEO as the primary tool to streamline practically every aspect of online business success. SEO tools have become so ingrained into computer systems and individual knowledge that it’s becoming almost ineffective based on how commonplace it is. Now, businesses have to think outside of the SEO-box to stay a step ahead in a sea of competitors that market just like them. CRM is that next-best thing. If SEO can create site traction and place businesses spots ahead on the search results page, what can CRM do? The answer? A lot more. Businesses using CRM have at their disposal the ability to:
- Gain insight into the past purchase history of their customers
- Gain insight into interactions with customer support to improve interactions in the future
- Gather target factors and trends that teach businesses about their customers and preferences for products and services
- Track and manage business and customer support and related tasks of sales
- Maximize customer base through CRM and business cards
2. CRM Provides Marketing Insight
CRM is not just a fancy term to describe new ways of connecting businesses and customers. It’s actually a field of study. CRM is so advanced that it takes detailed analysis to understand how businesses can best interact with their customers online in an ever-changing digital landscape. Data analysis is the foundation of the field, requiring experts to look at vast ranges of data and information to determine the most productive ways to bridge lasting connections, sales, and loyalty, between businesses and consumers.
3. CRM Meets Detailed Customer Needs
These functions are just the beginning of CRM, the faster and wiser version of SEO. Now you can rely on more than trust and will to judge your customers and market to them. You can learn far more than just their basic information. CRM customer insights, previous purchases, and feedback with sales support, provide you with a truer picture of what you need to do to market to customers effectively. The more detail a business has about its customers, the greater their ability to market to them specifically, knowing this added information.
With greater insights from CRM, companies can create digital content that is already specified to meet customer needs directly. Take this above image off an estate company site. When customers build their profiles, they are asked to select specifics that generate personalized plans. These specifics are much more than basic information. Why would an estate planning company list these customer desires over others? How could this company know of these factors ahead of time? CRM.
It’s a given now that technology and business go hand-in-hand. The best way to stay ahead of the curve is to ask yourself how your business can evolve alongside it. Be open to new methods of communication and marketing and learn the essentials of new target marketing approaches. CRM is in the driver’s seat today, so make sure your business knows where it’s going.
About the Author
Jacob Dayan graduated with a Bachelor’s in Business Administration from the University of Michigan’s Ross School of Business. He began his career as a financial analyst at Bear Stearns’ industry leading Financial Analytics and Structured Transactions group. In 2010, he co-founded Community Tax LLC, a tax company dedicated to helping customers nationwide with tax resolution, tax preparation, bookkeeping and accounting services. As CEO of Community Tax, Jacob Dayan has assembled a strong team of attorney practitioners, CPAs and enrolled agents to deliver superior customer service and expected results.